XAU Trading Outlook (20-01-2016)

SPI 200‏ (ASX)‏ (H6) Intraday: bullish bias above 4770.

Pivot: 4770

Our preference: long positions above 4770 with targets @ 4880 & 4910 in extension.

Alternative scenario: below 4770 look for further downside with 4700 & 4650 as targets.

Comment: the RSI is mixed with a bullish bias.

Supports and resistances:
4945
4910
4880
4841 Last
4770
4700
4650

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